Procept BioRobotics (NASDAQ:PRCT) Shares Down 3.8%

Procept BioRobotics Corp (NASDAQ:PRCT)’s share price traded down 3.8% during mid-day trading on Thursday . The stock traded as low as $22.11 and last traded at $22.11. 254 shares traded hands during trading, a decline of 100% from the average session volume of 251,538 shares. The stock had previously closed at $22.99.

PRCT has been the topic of several research analyst reports. Cowen initiated coverage on Procept BioRobotics in a research report on Monday, October 11th. They issued an “outperform” rating and a $50.00 price objective on the stock. Guggenheim initiated coverage on Procept BioRobotics in a research report on Monday, October 11th. They issued a “buy” rating and a $45.00 price objective on the stock. Bank of America initiated coverage on Procept BioRobotics in a research report on Monday, October 11th. They issued a “buy” rating and a $48.00 price objective on the stock. Zacks Investment Research cut Procept BioRobotics from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, SVB Leerink boosted their price objective on Procept BioRobotics from $46.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, November 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Procept BioRobotics has a consensus rating of “Buy” and a consensus target price of $47.00.

The company has a debt-to-equity ratio of 0.18, a current ratio of 23.94 and a quick ratio of 23.21. The company’s 50-day simple moving average is $31.26.

Procept BioRobotics (NASDAQ:PRCT) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.80). The firm had revenue of $8.67 million during the quarter, compared to analysts’ expectations of $7.20 million. As a group, analysts predict that Procept BioRobotics Corp will post -1.7 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Procept BioRobotics during the 3rd quarter valued at $39,000. Point72 Hong Kong Ltd bought a new stake in shares of Procept BioRobotics during the 3rd quarter valued at $135,000. Capstone Investment Advisors LLC bought a new stake in shares of Procept BioRobotics during the 3rd quarter valued at $204,000. Geode Capital Management LLC bought a new position in Procept BioRobotics in the 3rd quarter worth about $352,000. Finally, Teacher Retirement System of Texas bought a new position in Procept BioRobotics in the 3rd quarter worth about $382,000. Institutional investors own 62.56% of the company’s stock.

About Procept BioRobotics (NASDAQ:PRCT)

PROCEPT BioRobotics Corporation is a commercial-stage surgical robotics company. It focused on advancing patient care by developing transformative solutions in urology. The company develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia.

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